Learn the trade here. Make it on tradeMONSTER

Options Trading News

August 24, 2012  Fri 11:01 AM CT

SPY: SEE CHART GET CHAIN FIND STRATEGIES

The S&P 500 is pausing after a big run, but one investor expects a strong end to the year.

optionMONSTER's Heat Seeker monitoring program detected a large bullish call buy in the SPDR S&P 500 exchange-traded fund, which tracks the index. More than 60,000 December quarterly 152 calls were purchased for $0.99 against previous open interest of just 3,383 contracts. The options expire on Dec. 31, and are different from the standard monthlies that run out on Dec. 21.

SPY rose 0.37 percent to $141.19 in late morning trading and is hovering near its highest price since June 2008, shortly before the subprime meltdown since the market tumbling.

That call buyer is looking for that resistance level to give way and for the fund to end the year strong. Using calls gives him or her exposure at a modest cost, limiting their capital at risk in case they're wrong. See our Education Section for more on how options can be used to manage exposures.

It was the biggest trade to cross our systems so far today.

Share this article with your friends


Related Stories

SPY

Midday index, ETF option volumes

March 28, 2014

The total options volume is running about average with 5.3 million contracts traded, with the primary index and ETP names leading the way.

SPY

Midday index, ETF option volumes

March 27, 2014

Options volume is strong with 6.8 million contracts, and the typical Index and ETP names dominating the action.

SPY

Midday index, ETF option volumes

March 26, 2014

Total options volume is light this morning with 4.7 million contracts traded with the big name index and ETP options topping the action.

SPY

Midday index, ETF option volumes

March 25, 2014

Total options volume is above average with 6.1 million contracts, and the big Index and ETP names are topping the action.

SPY

Midday index, ETF option volumes

March 24, 2014

Total options volume is strong with 7.2 million contracts, with relatively bearish sentiment appearing in indexes and exchange-traded funds.

Premium Services

Education & Strategy

Options and high-frequency trading

There has been much talk lately of high-frequency trading (HFT) and what it does--or doesn't--mean to the markets and retail...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER